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Occidental Petroleum (OXY) Trading Near $61.28 Resistance Level

May 19, 2017 (Marketintelligencecenter.com via COMTEX) --

MarketIntelligenceCenter.comaEUR(TM)s patented algorithms have chosen the Aug 18, 2017 $60 call for a couple of hedged-trading ideas on Occidental Petroleum (<a href="http://www.marketintelligencecenter.com/symbol/OXY">OXY</a>). A traditional covered call on Occidental Petroleum yields 3.68% (14.76% annualized, for comparison purposes only) and provides 4.01% downside protection. For those looking for a higher return and who can tolerate more risk, consider buying the Jan 19, 2018 $50 call and then selling the Aug 18, 2017 $60 call for a net debit of $8.27. This trade has a potential return of 20.77% (14.76% annualized, for comparison purposes only), but also carries a greater potential for losses.

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